Markets were in a buying mood today with buy ratio from 7 to 1 to 20 to 1......I wonder what happened to famous mantra "sell the RIP".....was this NOT mother of a RIP.....so another popular theory hit the DUST.......
So Macke wannabes sold first thing in the morning....then loaded UP on DXD...& watched their hard earned RIP equity EVAPORATE whole day...I am sure they TRIPLED UP on their DXD...as they say AVERAGE DOWN & DOWN & DOWN......
As I mentioned before OPEN......this will be a "very bad day for shorts"...it turned out to be BAD,BAD & more BAD......
Funny NOBODY mentioned DXD for tomorrow on Fast Money.....still SCREAMING "sell the RIP"......As Barton Biggs replied to Macke.....so you sell the rally.......while market will keep going HIGHER.....
Barton Biggs is predicting melt UP buying to CONTINUE...to much HIGHER levels......
I personally believe this IS a solid rally which has much more room on the UPSIDE.......
BLOG does NOT give buy or sell.
Saleem
3 comments:
From your Blog to God's ear... :-)
I am looking forward picking great stocks instead of having a roller coaster ride.
On a more serious note, I have been following thins stock: Kendle International Inc. (KNDL). It has been puzzling me for a while, and especially today. If any of you have any input on this, I would appreciate.
Hi Frogvest,
CVD caused the slump in this sector as they are saying in CC that funding cutbacks/cancellations due to credit crunch.
Saleem
Yeah (you mean CVG). Read that. But still, I think it makes no sense when you look at the fundamentals.
I smell a rat on this one. There must be more to the story or somebody is looking to buy cheap shares. Will keep an eye on it.
Thanks for the input!
Post a Comment